Business

Debut sovereign green bond offer oversubscribed

178
The Debt Management Office (DMO) has raised N10.791 billion in 5-year bonds, accepting over N700 million in over subscriptions.
The Debt office announced that the debut Sovereign Green Bond offered to the general public in December, 2017 was very well received by a wide range of investors. At the close of the Offer, the Total Subscription received was N10.791 billion compared to the N10.69 billion Offered. Among the investors who subscribed to the Green Bond were banks, pension funds, asset managers and retail investors. The DMO had offered N10.69 billion Sovereign Green Bond for a Tenor of 5 years and Coupon of 13.48%.
The Green Bond rated ‘Excellent’ by Moody’s, was issued as part of the Federal Government’s New Domestic Borrowing in the 2017 Appropriation Act to finance three (3) Projects. The Projects are Energising Education Programme, Renewable Energy Micro Utilities and Afforestation Programme.
According to a statement, “The DMO is pleased with the strong interest shown by Investors, and added that it shows investors interest in new products and support for the objective behind the issuance of Bond which is to invest in projects that will contribute to preserving the environment. It also shows support for the Paris Agreement on the Climate, which Nigeria has endorsed. “

Leave a comment

Related Articles

Naira surges by 9.68% at the official window, closing at N1,339.33/$1

The Nigerian naira appreciated significantly against the US dollar on Monday, closing...

UBA at 75: It’s testament to resilience, innovation, remarkable financial strength – GMD

In its 75 years of operation, the United Bank for Africa (UBA)...

Breaking: Emirates Airlines to resume operations in Nigeria Oct. 1

Emirates Airlines says it plans to resume operations in Nigeria on October...

Western Digital launches SanDisk Desk Drive

Western Digital has launched the SanDisk Desk Drive, the latest addition tonits...

List of five charges Nigerians pay for electronic transactions

Following the latest directives from the Central Bank of Nigeria (CBN) authorizing...

Zenith Bank shareholders approve bank’s restructuring to holding company

“The Founder and Chairman of Zenith Bank Plc, Jim Ovia, expressed his...

UBA increases stake in Kenya, Uganda subsidiaries, eyes East Africa market

Pan-African banking group, United Bank for Africa (UBA) says it has acquired...

CBN sells fresh dollars to BDCs at N1,021/$ as naira loses steam

The Central Bank of Nigeria (CBN) has issued another circular to Bureau...

Naira bullish gains restore confidence among investors, businesses – CBN Gov. Cardoso

The Governor of the Central Bank of Nigeria (CBN), Dr. Yemi Cardoso,...

Pres. Tinubu commends Dangote Group over new gantry price of diesel

President Bola Tinubu has applauded Dangote Oil and Gas Limited for reducing...

Industry and Trade Minister promises Nigerian Breweries, business community enabling environment

The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, has reaffirmed...

Transcorp Power Plc grows topline by 57.03%, profit up by 75% in 2023 audited results

Transcorp Power Plc (Transcorp Power), one of the power subsidiaries of Nigeria’s...

UBA records impressive gross earnings rise of 143%, profit hits N757.7bn in financial year 2023

The United Bank for Africa (UBA) Plc has recorded a 143 per...

Breaking: Nigeria to get oil-backed $1bln Afreximbank loan in May

Nigeria is set to receive $1.05 billion from a syndicated loan backed...

Breaking: CBN sells $10,000 to BDCs at N1,101/$

The Central Bank of Nigeria (CBN) on Monday announced the sale of...

Premium Pension Ltd., industry leader, records impressive N1.134trn revenue growth in 2023

A leading pension fund administrator in Nigeria, Premium Pension Limited, has said...

Transcorp Group records robust growth in 2023, revenue up by 47.3%, profit-before-tax of 93.5% Transnational Corporation Plc

(“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate, has announced its financial...

Updated: We raised interest rate to 24.75 percent to fight inflation – CBN

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN)...

Don’t sell dollar above N1,269, CBN orders Bureau de Change

As part of measures to strengthen the naira against the dollar, the...

Dangote set to disburse N15bln food items to 774 LGAs to cushion harsh economic conditions

Nigerian businessman and industrialist Alhaji Aliko Dangote says he has allocated N15...